Prince Harry and Meghan Markle's Frogmore Cottage deal has been revealed. It seems that the couple has fulfilled their financial obligations regarding the property.
As we may recall, they moved into the Windsor residence in early 2019, a few months before their first child Archie Harrison was born.
According to reports, the couple agreed to a deal with Buckingham Palace over the rent of their royal house in 2020.
This was just shortly after the announcement of their multi-year partnership with streaming giant Netflix. Officials have stated that Meghan and Harry have refunded the £2.4 million that was taken from the Sovereign Grant to renovate the cottage.
It has been said that after the payment was made, Meghan and Harry struck a deal with the palace to pay no further rent on their royal residence.
The palace spokesperson informed the Mail on Sunday that the couple had fulfilled their financial obligations towards Frogmore Cottage.
As is customary, the accounting treatment of the payment was scrutinized and signed off by the National Audit Office and the Treasury. Further details regarding the couple's tenancy arrangements were deemed a private matter between landlord and tenant.
Meghan and Harry lived at Frogmore Cottage until mid-November 2019 before taking a six-week break from royal duties to Canada. They subsequently decided to remain in North America.
It's estimated that renting Frogmore Cottage would cost between £150,000 and £230,000 per year. With their payment, the California-based couple may have saved up to £690,000.
